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Section 80C is the most used tax-saving section amongst the tax-payers to reduce their tax liability. Starting with PPF contributions, five-year term deposits, life insurance plans or ELSS schemes, though there is a long list of tax-free instruments under this section, in total you cannot claim more than Rs 1.5 lakh exemption through Section 80C…
With the Reserve Bank of India (RBI) not looking very comfortable with the inflation numbers across food and fuel segments, it is unlikely that there could be a major cut in the upcoming RBI’s monetary policy meet. So, with interest rates not coming down in a hurry, investors especially who are retired and also those…
If you haven’t filed your income tax return yet, you have few days left to do so to avoid legal proceedings. Individuals who have not filed their income tax returns (ITR) for the assessment year 2018-19 should do the same within 21 days to avoid proceedings under the Income Tax Act, news agency IANS (Indo-Asian…
The countdown to save tax for the current financial year (FY) 2018-19 has begun. Ajit, in his mid-20s, has received a second reminder from the accounts department to submit proofs for investment declarations he had made earlier in the FY. In the absence, Ajit would see a higher TDS (tax deduction at source) in the…
The government now allows premature withdrawal from NPS or National Pension System under certain conditions. NPS subscribers are eligible for three partial withdrawals from the pension scheme, with each withdrawal not exceeding 25 per cent of the contributions made by him or her, Minister of State for Finance Shiv Pratap Shukla said in response to a question in…
State Bank of India (SBI) customers holding regular savings accounts with the lender are required to maintain a monthly average balance (MAB) to the tune of Rs. 1,000-3,000, according to bank’s corporate website- sbi.co.in. The monthly average balance, which is the average of end-of-day balances in the savings account in a month, varies depending on the location of the…
Here’s what you can do Fixed deposit (FD) is a financial instrument provided by banks or Non-Banking Financial Companies (NBFCs) on deposit of a lump sum amount at an agreed rate of interest and for a fixed period. FD investments provide a higher rate of interest compared to a savings account. However, withdrawal of the FD…
The small saving schemes offered by post office should be on every investor’s radar for the purpose of investing your money amid saving your taxes. Money does not grow until it is invested. But what’s better, when you can also get income tax benefits on your investment! There are many products available in the market that…
